I'd hate for a temporary dip in the quality of the tenant pool to be giving my landlord "spidey sense" false alarms on account of taking an extra month or two to fill a unit.

A cash out refi should take 2-3 weeks with most lenders, and you should have only an appraisal a credit report fee as upfront costs. 

If they pay late now as is, let's say they lose a job or have a temporary loss of income, you're kind of SOL.I would look to build reserves between now and August.

Looking my insurance policy it mentions that I can opt for settlement under Actual Cash Value vs Replacement Cost. 

Because of this, most buyers come with cash or use short term seller financing.

Or any amount of cash you take out from the exchange are considered to be profit. 

@Yooni ChoiFor a first property, $100/month in cash flow might not be ideal, but it’s acceptable, especially with a house hack.

Are you generally seeing cash flow positive deals from day 1?

The higher rates and no point options hopefully are temporary for you until you are able to show a 2 year history of 1099 income, refinance early in 2026 once you have completed your 2025 returns. 

That is in addition to clauses that require anyone that stays more than 7 nights in 12-months to apply (then it becomes our choice if they are treated as a temporary occupant or tenant) and prohibition of subleasing.